Wells Fargo & Company Lowers Hubbell (NYSE:HUBB) Price Target to $530.00

Hubbell (NYSE:HUBB) had its target price reduced by stock analysts at Wells Fargo & Company from $550.00 to $530.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 7.24% from the company’s current price.

HUBB has been the topic of several other reports. Stephens reaffirmed an “overweight” rating and issued a $550.00 target price on shares of Hubbell in a research report on Thursday, February 5th. Evercore lifted their price target on Hubbell from $575.00 to $585.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. UBS Group reissued a “neutral” rating and issued a $450.00 price target on shares of Hubbell in a research note on Friday, December 12th. Wall Street Zen downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Mizuho set a $575.00 target price on shares of Hubbell in a research note on Wednesday, February 4th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $533.50.

Hubbell Stock Down 1.2%

HUBB stock opened at $494.23 on Wednesday. Hubbell has a 12-month low of $299.42 and a 12-month high of $533.80. The company has a quick ratio of 1.00, a current ratio of 1.72 and a debt-to-equity ratio of 0.53. The company has a market cap of $26.27 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 2.53 and a beta of 1.00. The company has a 50 day moving average of $496.68 and a two-hundred day moving average of $462.10.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, February 3rd. The industrial products company reported $4.73 EPS for the quarter, beating the consensus estimate of $4.70 by $0.03. Hubbell had a net margin of 15.29% and a return on equity of 27.45%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the previous year, the company posted $4.10 EPS. Hubbell’s revenue was up 11.9% on a year-over-year basis. Hubbell has set its FY 2026 guidance at 19.150-19.850 EPS. On average, equities analysts anticipate that Hubbell will post 17.63 earnings per share for the current fiscal year.

Insider Activity at Hubbell

In other Hubbell news, VP Katherine Anne Lane sold 4,610 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $505.60, for a total value of $2,330,816.00. Following the sale, the vice president directly owned 14,913 shares in the company, valued at $7,540,012.80. This trade represents a 23.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Nero Jonathan M. Del sold 2,245 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $500.60, for a total transaction of $1,123,847.00. Following the transaction, the vice president directly owned 2,769 shares of the company’s stock, valued at $1,386,161.40. This represents a 44.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 34,689 shares of company stock worth $17,407,395. Insiders own 0.66% of the company’s stock.

Hedge Funds Weigh In On Hubbell

Several large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in shares of Hubbell by 4.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 89,729 shares of the industrial products company’s stock valued at $38,611,000 after buying an additional 3,542 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in shares of Hubbell by 64.0% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 3,879 shares of the industrial products company’s stock valued at $1,669,000 after acquiring an additional 1,514 shares in the last quarter. Nordea Investment Management AB increased its stake in Hubbell by 15.7% in the third quarter. Nordea Investment Management AB now owns 203,399 shares of the industrial products company’s stock valued at $87,333,000 after acquiring an additional 27,576 shares during the period. Walter Public Investments Inc. increased its stake in Hubbell by 33.3% in the third quarter. Walter Public Investments Inc. now owns 35,086 shares of the industrial products company’s stock valued at $15,098,000 after acquiring an additional 8,774 shares during the period. Finally, Troy Asset Management Ltd raised its position in Hubbell by 5.8% in the third quarter. Troy Asset Management Ltd now owns 343,293 shares of the industrial products company’s stock worth $147,722,000 after purchasing an additional 18,767 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

About Hubbell

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.